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GK POWER CAPSULE FOR UIIC AO EXAM 2014

GK POWER CAPSULE FOR UNITED INDIA INSURANCE COMPANY ASSISTANT OFFICER EXAM 2014(UIIC 'AO')

1.Former Supreme Court judge CK Prasad is set to be appointed as the next Chairperson of the Press Council of India.Prasad will succeed Justice Markenday Katju as the Chairman of the PCI.

2.The fourth largest private bank (post merger with ING Vysya) received approval from RBI to form a 100% subsidiary to enter general insurance industry, which is currently growing at a Rs.77,000 crore premium per annum.

3.The bank already has a tie up with Tata AIG General Insurance Company to sell and distribute its products.Kotak also has a Life insurance unit called Kotak Mahindra Old Mutual Life Insurance Ltd, a joint venture between Kotak Mahindra Bank and South Africa-based Old Mutual Public Ltd.

GK POWER CAPSULE FOR UIIC AO EXAM 2014

4.Kathak queen Sitara Devi died. She was 94.She was honored with the Legends of India Lifetime achievement Award 2011 for her contribution to the classical dance genre for over six decades.

i.Gujarat-based Adani group bought out L&T and Tata Steel's shares in the company in March 2014 at an enterprise value of Rs 5500 crore.

ii .Following the acquisition, the second phase of development was to be initiated within 90 days and completion targeted in 30 months.

iii.This continued expansion will allow Dhamra port to exceed 100 million tonnes of cargo capacity by the year 2020.

Note:The port, situated between Haldia in West Bengal and Paradip in Odisha, was mostly handling cargo like coal and limestone.

6.Nepal has given an Indian company permission to build a 900 megawatt hydropower plant.

i.The two countries will sign an agreement for the $1.04 billion project, which provides Nepal with free electricity and India energy for its power-hungry economy.

ii.The project, which will be built by Satluj Jal Vidyut Nigam (SJVN) Limited, was originally cleared in 2008 but never implemented after Kathmandu lobbied for greater benefits.

7.GMR Infrastructure has received the Securities and Exchange Board of India approval to rise up to Rs. 1,500 crore through rights issue.

i. In a rights issue, shares are issued to existing investors as per their holding at a predetermined
price and ratio.

8.An Indian Railways team is in China to chalk out plans for conducting feasibility study to build the 1,754 km-long Delhi-Chennai high-speed train corridor;world's second largest bullet train line.

i.The proposed corridor could be the second largest in the world after China's 2,298 km-long Beijing-Guangzhou line which was launched last year. Running at a speed of 300 km per hour, it covers the distance in about eight hours.

Note: India is currently considering two corridors for high speed trains. While Japan is conducting feasibility study for the Bullet train project in Mumbai-Ahmadabad